Ginnie Mae's president, Joseph Murin, will leave the mortgage agency Friday, according to one of HousingWire's sources familiar with the matter.
His resignation from Ginnie is part of a move that has been in the works "for a while," the source said on condition of anonymity. Murin plans to transition into the private sector, but will remain involved in housing, according to the source.
The departure arrives on mutually friendly terms, says the source, although Ginnie has yet to name a formal replacement. A spokesperson from Ginnie could not return requests for comment before this story was published.
Murin oversaw significant growth in Ginnie's market presence since becoming president more than a year ago. Ginnie's issuance swelled, culminating ina record $43.5bn in mortgage-backed securities (MBS) issued during June, the first time in the agency's 41-year history that the monthly issuance surpassed $40bn.
Write toDiana Golobay.